Alibaba is reportedly offering $1.5 billion for Chinese grocery delivery firm Pupu, initiating a bidding war to gain market share from rival Meituan. This move highlights intense competition for scarce retail assets in China's local commerce and fresh produce sectors. The escalating bids signal a potential return to market-share competition over profitability.
Alibaba is reportedly offering $1.5 billion for Chinese grocery delivery firm Pupu, initiating a bidding war to gain market share from rival Meituan. This move highlights intense competition for scarce retail assets in China's local commerce and fresh produce sectors. The escalating bids signal a potential return to market-share competition over profitability.
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